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05-15-2013, 09:06 AM
  #76
Replacement
Now with 9% more zen
 
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Join Date: Apr 2005
Location: Hockey Hell
Country: Canada
Posts: 35,927
vCash: 500
Quote:
Originally Posted by worraps View Post
At one point I am almost sure that Replacement obtained an opulent, state of the art, best in the world type home (relative to the rest of the world) for very little money down.

It's the miracle of financing.

Katz will eventually have paid for a substantial portion of the arena just as Replacement eventually paid down his first mortgage.
If you need to know I paid a subtantial portion, 1/3 cost, in cold hard cash. At the time of purchase the minimum amount I would have had to pay up front to purchase, legal fees, and obtain a mortgage would have been around 10% I did more than that because I wanted to reduce my mortgage payments and I could.

The bank never paid me back 2M in advertising/yr, I didn't have any "naming rights" and/or other revenue from the facility and the city didn't offer to pay for the property my house sits on.

Yeah, exactly the same..

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